///Medical Device Commercialisation Program

Medical Device Commercialisation Program

About

The Medical Device Commercialisation Program (MDCP) is a $500,000 per annum, competitive commercialisation program funded by the South Australian Government, through the Department of Trade and Economic Development (DTED).

Objectives

The objective of the MDCP is to:

  • support technically viable products with a compelling value proposition through the early stages of commercialisation;
  • promote innovation in the medical and assistive devices sector; and
  • stimulate economic development in South Australia.

Definition

Consistent with the Therapeutic Goods Administration, the MDCP defines medical devices as any technology, including devices, software or diagnostic, intended to be used by human beings for the prevention, monitoring or treatment of disease, injury or physiological process, excluding devices that act biologically or on biological agents. The commercialisation program will also include assistive devices, or devices intended to support aged care.

 

Delivery Model

Applicants will have the choice of applying for a Medical Device Research Grant (MDRG) or a Medical Device Commercialisation Grant (MDCG) through two delivery streams depending on the level of assistance required. Applicants will note that they are responsible for all negotiations involving their intellectual property.

Stream 1

Stream 1 is for applicants who wish to apply for a MDCP grant with the assistance and support of the Medical Device Partnering Program* (MDPP) co-ordinated by Flinders University, which will:

  • undertake a preliminary technical assessment of the applicant’s project;
  • identify the appropriate research team to add value to the project;
  • include a preliminary commercial assessment by Flinders Partners;
  • provide applicants with a project scoping document and market assessment document that can be used to support a MDCP grant application; where the grant is successful, the MDPP, through Flinders University, will receive the funding and co-ordinate expenditure on behalf of the applicant.

Stream 2

Stream 2 is for applicants that wish to apply directly for a MDCP grant without participating in the MDPP.

 

Medical Device Research Grant

The MDRG awards recipients up to $15,000 (Ex GST) on a 3:1 funding basis (ie a recipient co-contribution of $5,000 (Ex GST) is required to receive the maximum grant), for recipients to engage a research organisation to validate their product’s technical viability. In addition to the grant, recipients will be eligible to receive commercial evaluation assistance from Flinders Partners, Flinders University’s commercialisation company.

 

Medical Device Commercialisation Grant

The MDCG awards recipients up to $40,000 (Ex GST) on a 1:1 funding basis (ie a recipient co-contribution of $40,000 (Ex GST) is required to receive the maximum grant), to:

  • support recipients develop a proof of concept and commercialisation strategy;
  • demonstrate that technical and commercial risks have been identified and mitigated; and
  • enable applicants to attract Australian Government and / or private sector funding to bring new products to market.

Applicants will note that:

  1. There is a finite pool of grant funding available each financial year.
  2. Time restrictions may apply to the funding, such that it must be expended within a specified time.

The Minister reserves the right not to award any grants.

 

Eligibility

Applicants

An applicant must be:

  • a financially viable company or commercial enterprise with a current or proposed connectionin SA; have an Australian Business Number (ABN); with an annual turnover of less than $25 million; and is a legal entity; or an individual who agrees to form such an entity i.e. with whom the South Australian Government can enter into legally binding funding agreements.
  • a South Australian public research organisation applying through their appropriate technology transfer office, or the CEO or equivalent of the research organisation.
  • An applicant must also own the right to use any intellectual property necessary to commercialise the project, be able to demonstrate that they can provide their required MDRG or MDCG co-funding contribution and willing to enter into a Funding Agreement.

 

Projects

A project needs to meet the following criteria:

  • the project must satisfy the definition of a medical or assistive device;
  • the project must seek to commercialise a medical or assistive device that clearly exhibits commercial potential in response to a defined market opportunity; and
  • the project must exhibit the potential to provide favourable economic outcomes for South Australia.

Expenditure

  • The grant funding supports expenditure incurred directly on the agreed project, within theagreed project period, details of which must be clearly provided in the application and will be detailed in the Funding Agreement.
  • For the MDRG (Stream 1), eligible expenditure includes the cost of engaging the MDPP to evaluate a product’s technical viability.
  • For the MDRG (Stream 2) eligible expenditure includes the cost of engaging a research organisation to evaluate a product’s technical viability.
  • For the MDCG, eligible expenditure includes:
    • Engaging research organisations or additional internal expertise to assist with technical research to develop a proof of concept or prototype, including clinical evaluation;
    • engaging specialist technical, regulatory or commercial advice to develop a commercialisation strategy;
    • approved expenses associated with the project;
    • leveraging of third party funding in support of the above activities.
    • The applicant will need to provide a statutory declaration detailing expenditure incurred to
    • support all expenditure claims made on the project.

Further Information

 

 

2017-02-09T17:13:35+00:00 May 17th, 2011|